On Thursday Pound/Dollar continued increasing with 150 pips. The Cable appreciated from 1.5503 to 1.5653 yesterday, in line with the positive money flow sentiment at around +23%, closing the day at 1.5634. Today the British Pound trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart the upward channel has resumed, while on the 3 hour chart quotes are moving within wide trading scope. First resistance is yesterday's peak at 1.5653. Break above it should extend the bullish movement further towards 1.5776. The nearest support level is yesterday's bottom at 1.5503. Going below it should extend British Pound's reduction further down towards next downward objective 1.5380.
There are no major economic events for UK today.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.5653 1.5776 1.5900
Technical support levels: 1.5503 1.5380 1.5247
Already made +8 pips profit/loss on GBP/USD today from the following sent to clients only signal:
5:15 GMT+1 Buy GBP/USD at 1.5627 SL 1.5601 TP 1.5687, exit sent at 8:28 GMT+1.
Today so far +52, yesterday +88, as shown at our web site.
GBP/USD Chart" title="GBP/USD Chart">